BTC and ETH’s 7-Day Option Skew Stays Above Level Last Seen in November 2021

Written By: Marcus Wang

Edited by: Charmyn Ho

Macro and Overall Risk Sentiment

The bulls have taken the upper hand in the first half of the week, with major indices testing key resistance levels. However, the weak earnings from Big Tech released post-market on Thursday may likely dampen the winning streak, where bears may fight back and pull S&P500 back to $4,100. Meanwhile, the crypto market momentum remains bullish, with both BTCUSDT and ETHUSDT gaining 2.1% and 2.5%, respectively, in the past week.